Achillion Pharmaceuticals Inc. (ACHN) is a biopharmaceutical company focused on the discovery, development and commercialization of innovative treatments for infectious diseases. Within the anti-infective market, it is currently concentrating on the development of antivirals for the treatment of chronic hepatitis C and the development of antibacterials for the treatment of resistant bacterial infections. As of December 31, 2009, ACHN focused on developing three Hepatitis C virus (HCV) drug candidates.

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In the report, the analyst notes:

"Shares of ACHN spiked almost 21% in yesterday's trading after the biopharmaceutical company announced the pricing of the public offering of its common stock. The New Haven, Connecticut-based company said it plans to sell 9.6 million shares at $5.90 a share, down from the previous session's closing price of $6.01."

"Also yesterday, the Company announced that it has initiated patient dosing in segment 2 of its phase II clinical trial of ACH-1625 for the treatment of hepatitis C virus (HCV) for genotype 1 treatment naïve HCV-infected patients. ACH-1625, discovered and advanced by ACH, is a potent small molecule inhibitor of HCV protease, an enzyme necessary for viral replication."

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